There is a grave fiscal cloud gathering on the horizon. Like most economists who do not have their heads in the sand, I have for many years warned of a pending fiscal crisis driven by excessive debt and unrealistic government commitments.
There are several states in the Midwest where successful entrepreneurial companies are charting the way for a new economy and demonstrating that high-growth entrepreneurship can happen anywhere when a region plays off its strengths.
The use of bad arguments to defend a position is a fairly strong telltale that the position cannot be defended with good arguments. This seems to be the case with the Korea FTA. NAM must think the public is fairly dumb to fall for its claims.
The way to get out of the debt is to invest in the human capital of the American people and grow out of the debt. The president took us in the right direction tonight, and should be thanked and congratulated.